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Axon Enterprise（AXON）与SPX Technologies, Inc.（SPXC）财务数据对比。点击上方公司名可切换其他公司
Axon Enterprise的季度营收约是SPX Technologies, Inc.的1.3倍（$796.7M vs $637.3M）。SPX Technologies, Inc.净利率更高（12.2% vs 0.3%，领先11.9%）。Axon Enterprise同比增速更快（38.9% vs 19.4%）。Axon Enterprise自由现金流更多（$155.4M vs $126.7M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs 17.0%）
Axon Enterprise是总部位于美国亚利桑那州斯科茨代尔的企业，面向军队、执法部门及民用市场开发各类武器装备与相关技术产品，业务覆盖公共安全、国防及民用消费等多个领域，为不同用户群体提供适配的产品解决方案。
SPX Technologies是美国头部制造企业，总部位于北卡罗来纳州夏洛特市，业务布局暖通空调、检测测量、输发电及工程解决方案四大核心领域，产品涵盖冷却塔、锅炉、地下管线定位仪、电力变压器、热交换器等，旗下拥有Waukesha、Dielectric、Genfare等多个知名品牌。
AXON vs SPXC — 直观对比
营收规模更大
AXON
是对方的1.3倍
$637.3M
营收增速更快
AXON
高出19.5%
19.4%
净利率更高
SPXC
高出11.9%
0.3%
自由现金流更多
AXON
多$28.7M
$126.7M
两年增速更快
AXON
近两年复合增速
17.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $637.3M |
| 净利润 | $2.7M | $77.9M |
| 毛利率 | 57.9% | 39.8% |
| 营业利润率 | -6.3% | 15.7% |
| 净利率 | 0.3% | 12.2% |
| 营收同比 | 38.9% | 19.4% |
| 净利润同比 | -98.0% | 36.4% |
| 每股收益（稀释后） | $0.02 | $1.56 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AXONSPXC
| Q4 25 | $796.7M | $637.3M | ||
| Q3 25 | $710.6M | $592.8M | ||
| Q2 25 | $668.5M | $552.4M | ||
| Q1 25 | $603.6M | $482.6M | ||
| Q4 24 | $573.4M | $533.7M | ||
| Q3 24 | $544.3M | $483.7M | ||
| Q2 24 | $504.1M | $501.3M | ||
| Q1 24 | $460.7M | $465.2M |
净利润AXONSPXC
| Q4 25 | $2.7M | $77.9M | ||
| Q3 25 | $-2.2M | $62.7M | ||
| Q2 25 | $36.1M | $52.2M | ||
| Q1 25 | $88.0M | $51.2M | ||
| Q4 24 | $136.0M | $57.1M | ||
| Q3 24 | $67.0M | $50.2M | ||
| Q2 24 | $40.8M | $44.2M | ||
| Q1 24 | $133.2M | $49.0M |
毛利率AXONSPXC
| Q4 25 | 57.9% | 39.8% | ||
| Q3 25 | 60.1% | 40.4% | ||
| Q2 25 | 60.4% | 41.4% | ||
| Q1 25 | 60.6% | 40.6% | ||
| Q4 24 | 60.5% | 40.9% | ||
| Q3 24 | 60.8% | 40.9% | ||
| Q2 24 | 60.3% | 40.1% | ||
| Q1 24 | 56.4% | 39.3% |
营业利润率AXONSPXC
| Q4 25 | -6.3% | 15.7% | ||
| Q3 25 | -0.3% | 16.4% | ||
| Q2 25 | -0.2% | 15.7% | ||
| Q1 25 | -1.5% | 13.8% | ||
| Q4 24 | -2.6% | 16.9% | ||
| Q3 24 | 4.4% | 16.3% | ||
| Q2 24 | 6.5% | 14.9% | ||
| Q1 24 | 3.5% | 13.9% |
净利率AXONSPXC
| Q4 25 | 0.3% | 12.2% | ||
| Q3 25 | -0.3% | 10.6% | ||
| Q2 25 | 5.4% | 9.4% | ||
| Q1 25 | 14.6% | 10.6% | ||
| Q4 24 | 23.7% | 10.7% | ||
| Q3 24 | 12.3% | 10.4% | ||
| Q2 24 | 8.1% | 8.8% | ||
| Q1 24 | 28.9% | 10.5% |
每股收益（稀释后）AXONSPXC
| Q4 25 | $0.02 | $1.56 | ||
| Q3 25 | $-0.03 | $1.28 | ||
| Q2 25 | $0.44 | $1.10 | ||
| Q1 25 | $1.08 | $1.09 | ||
| Q4 24 | $1.68 | $1.21 | ||
| Q3 24 | $0.86 | $1.06 | ||
| Q2 24 | $0.53 | $0.94 | ||
| Q1 24 | $1.73 | $1.05 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.7B | $364.0M |
| 总债务越低越好 | $1.8B | $496.7M |
| 股东权益账面价值 | $3.2B | $2.2B |
| 总资产 | $7.0B | $3.6B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资AXONSPXC
| Q4 25 | $1.7B | $364.0M | ||
| Q3 25 | $2.4B | $229.4M | ||
| Q2 25 | $2.1B | $132.8M | ||
| Q1 25 | $2.2B | $177.8M | ||
| Q4 24 | $788.1M | $156.9M | ||
| Q3 24 | $1.0B | $124.8M | ||
| Q2 24 | $968.9M | $128.1M | ||
| Q1 24 | $964.1M | $100.5M |
总债务AXONSPXC
| Q4 25 | $1.8B | $496.7M | ||
| Q3 25 | $2.0B | $499.8M | ||
| Q2 25 | $2.0B | $950.3M | ||
| Q1 25 | $2.0B | $872.0M | ||
| Q4 24 | $680.3M | $577.0M | ||
| Q3 24 | — | $665.2M | ||
| Q2 24 | — | $509.9M | ||
| Q1 24 | — | $516.6M |
股东权益AXONSPXC
| Q4 25 | $3.2B | $2.2B | ||
| Q3 25 | $3.0B | $2.1B | ||
| Q2 25 | $2.7B | $1.5B | ||
| Q1 25 | $2.6B | $1.4B | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.8B | $1.2B |
总资产AXONSPXC
| Q4 25 | $7.0B | $3.6B | ||
| Q3 25 | $6.7B | $3.4B | ||
| Q2 25 | $6.2B | $3.3B | ||
| Q1 25 | $6.1B | $3.1B | ||
| Q4 24 | $4.5B | $2.7B | ||
| Q3 24 | $4.0B | $2.8B | ||
| Q2 24 | $3.7B | $2.8B | ||
| Q1 24 | $3.6B | $2.8B |
负债/权益比AXONSPXC
| Q4 25 | 0.56× | 0.22× | ||
| Q3 25 | 0.66× | 0.23× | ||
| Q2 25 | 0.73× | 0.62× | ||
| Q1 25 | 0.79× | 0.60× | ||
| Q4 24 | 0.29× | 0.42× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.40× | ||
| Q1 24 | — | 0.42× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $217.2M | $195.2M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $126.7M |
| 自由现金流率自由现金流/营收 | 19.5% | 19.9% |
| 资本支出强度资本支出/营收 | 7.8% | 10.7% |
| 现金转化率经营现金流/净利润 | 79.14× | 2.51× |
| 过去12个月自由现金流最近4个季度 | $75.1M | $241.2M |
8季度趋势，按日历期对齐
经营现金流AXONSPXC
| Q4 25 | $217.2M | $195.2M | ||
| Q3 25 | $60.0M | $106.5M | ||
| Q2 25 | $-91.7M | $42.5M | ||
| Q1 25 | $25.8M | $-10.9M | ||
| Q4 24 | $250.2M | $166.5M | ||
| Q3 24 | $91.3M | $51.4M | ||
| Q2 24 | $82.8M | $57.5M | ||
| Q1 24 | $-15.9M | $10.5M |
自由现金流AXONSPXC
| Q4 25 | $155.4M | $126.7M | ||
| Q3 25 | $33.4M | $96.1M | ||
| Q2 25 | $-114.7M | $34.8M | ||
| Q1 25 | $932.0K | $-16.4M | ||
| Q4 24 | $225.4M | $156.7M | ||
| Q3 24 | $64.8M | $43.5M | ||
| Q2 24 | $71.4M | $47.1M | ||
| Q1 24 | $-32.1M | $600.0K |
自由现金流率AXONSPXC
| Q4 25 | 19.5% | 19.9% | ||
| Q3 25 | 4.7% | 16.2% | ||
| Q2 25 | -17.2% | 6.3% | ||
| Q1 25 | 0.2% | -3.4% | ||
| Q4 24 | 39.3% | 29.4% | ||
| Q3 24 | 11.9% | 9.0% | ||
| Q2 24 | 14.2% | 9.4% | ||
| Q1 24 | -7.0% | 0.1% |
资本支出强度AXONSPXC
| Q4 25 | 7.8% | 10.7% | ||
| Q3 25 | 3.7% | 1.8% | ||
| Q2 25 | 3.4% | 1.4% | ||
| Q1 25 | 4.1% | 1.1% | ||
| Q4 24 | 4.3% | 1.8% | ||
| Q3 24 | 4.9% | 1.6% | ||
| Q2 24 | 2.2% | 2.1% | ||
| Q1 24 | 3.5% | 2.1% |
现金转化率AXONSPXC
| Q4 25 | 79.14× | 2.51× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | -2.54× | 0.81× | ||
| Q1 25 | 0.29× | -0.21× | ||
| Q4 24 | 1.84× | 2.92× | ||
| Q3 24 | 1.36× | 1.02× | ||
| Q2 24 | 2.03× | 1.30× | ||
| Q1 24 | -0.12× | 0.21× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
SPXC
| Package And Process Cooling Equipment And Services And Engineered Air Movement And Handling Solutions | $258.5M | 41% |
| Detectionand Measurement Reportable Segment | $206.2M | 32% |
| CA | $57.7M | 9% |
| Kranze Technology Solutions Inc | $37.9M | 6% |
| GB | $32.0M | 5% |
| Other Foreign Countries | $28.6M | 4% |
| Other | $16.4M | 3% |
